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CA Intermediate · Taxation · Provisions for filing Return of Income and Self Assessment

Mr. Arvind Kulkarni, a resident individual, runs a trading business in Pune. His accounts for the tax year 2026-27 are required by law to be audited under the Income-tax Act, 2025. He is not a partner in any firm and has no transfer pricing transactions. By which date should he furnish his return of income for the tax year 2026-27 to avoid being treated as late?

The due date is 31 October 2027. A person whose accounts need a tax audit gets until 31 October after the tax year, whereas the 31 July date is for non-audit individuals and 30 November is only for cases involving transfer pricing reports.

  1. A31 July 2027
  2. B31 August 2027
  3. C31 October 2027Correct
  4. D30 November 2027

Explanation

For an assessee whose accounts must be audited, the due date is 31 October following the tax year. 31 July applies to non-audit individuals. 30 November applies where a transfer pricing report is needed, which is not the case here. 31 August is not a due date for this case.

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